Senior Associate - Retirement

WTW is a leading global advisory, broking and solutions company that provides data-driven, insight-led solutions in the areas of people, risk and capital. Utilizing the global view and local expertise of our 48,000 colleagues serving more than 140 countries and markets, we help organizations sharpen strategies, enhance resilience, motivate workforces and maximize performance. We design and deliver solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. Working closely with our clients, we uncover opportunities for sustainable success.

The Business

Our Retirement business provides actuarial support, plan design, and administrative services for all forms of pension and retirement savings plans. Our colleagues help our clients assess the costs and risks of retirement plans on cash flow, earnings and the balance sheet, the effects of changing workforce demographics on their retirement plans, and retiree benefit adequacy and security. We offer clients a full range of integrated retirement consulting services and solutions to meet the needs of all types of employers. We help multinationals coordinate plan design and actuarial services across their complex global plans. We bring in-depth data analysis and perspective to their decision-making process as we have tracked the retirement designs and financing strategies of companies around the world over many decades.

The Role

• Senior Associate within Retirement Line of Business at Willis Towers Watson US LLC, in Seattle, WA. 
• Engage in pension and postretirement plan design including annual pension and/or post-retirement medical and life plans valuations; forecasting; asset/liability modeling; pension plan administration; experience studies and solving other retirement-related client issues. 
• Calculate and review expense, budgets and year-end disclosures under US GAAP and IFRS for pension and retiree medical plans.
• Perform and review deterministic projection modeling to project long term pension liabilities, contributions and benefit costs for various funding scenarios and serve as a main resource for colleagues.
• Work on various de-risking projects such as SB RAP (small benefit retirement annuity purchase) and plan terminations with data preparation and reconciliation, assumption development and setup, financial impact analyses, and review on accuracy and reasonableness of the results.
• Perform ALM (asset liability management) studies, providing the client with financial funded status update of their qualified, non-qualified, and other post-employment benefits plans, market and regulatory updates and its impact on their plans, and strategy review by performing asset allocation studies to produce absolute and surplus return efficient frontiers and detailed comparison of current and other alternative asset portfolios for clients to consider.
• Perform technical reviews on data, gain and loss analyses, and valuation results prepared by junior colleagues to ensure the accuracy and reasonableness of the work and summarize key results to consultants.
• Review government filings in accordance with FASB, GASB, Department of Labor, ERISA, Pension Protection Act, and other government regulations, prepared by junior associates. 
• Serve as project manager for multiple projects, leading projects by setting work plans, managing budgets and deadlines, coordinating team members, and ensuring internal and client deadlines are met.
• 40 hours/wk; Monday-Friday; 9am-5pm; $102,300–$121,000 Per Year

The Requirements

• Bachelor’s degree (U.S. or foreign equivalent) in Actuarial Science, Mathematics, or a related field.
• Four (4) years of experience as an Actuarial Analyst or related role.
• Prior experience reviewing and checking valuation work and complex data analysis for large corporate U.S. defined benefit plans (e.g., 500+ participants) sponsored by Fortune 1000 companies or organizations of similar size.
• Prior experience contributing to the design, valuation and administration of retirement plans for Fortune 1000 companies or organizations of similar size, including assessing liabilities, preparing cost estimates and core valuations in compliance with the Pension Protection Act, U.S. GAAP and International Financial Reporting Standards (IFRS).
• Prior experience reviewing and checking U.S. government retirement plan filings, including Forms 5500, Schedule SB and PBGC premium filings.
• Prior experience coding experience in pension valuation software.
• Must have exam progress toward designation as an Associate of the Society of Actuaries (ASA) or Enrolled Actuary (EA) designation.

Compensation and Benefits

Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that base salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).

Compensation

The base salary compensation range being offered for this role is $102,300 - $121,000 USD per year.

This role is also eligible for an annual short-term incentive bonus.

Company Benefits

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
• Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (Washington State only)
• Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans. If Level 38 or more senior role is in Washington State, you must add the retirement benefits paragraph to the job description. Please note: Producer Sales roles are not currently eligible for the WTW Pension Plan.

EOE, including disability/vets

This position will remain posted for a minimum of three business days from the date posted or until sufficient/appropriate candidate slate has been identified.